On January 1st 2000 Bilbo Company purchased all of the stock of Froto Company at book value Bilbo accounts for its purchase of Froto using the initial value (cost) method and Froto does not pay any dividends On July 1st 2023, Froto purchased $900,000 of inventory from Gandoff Company paying cash. Gandoff is independent of both Bilbo and Froto. On October 1st 2023 Froto Sold the inventory to Bilbo for $1,200,000 cash. Froto uses the perpetual method for inventory At the end of 2023 Bilbo had not sold any of the inventory acquired from Froto During 2024 Bilbo sold 1/2 of the inventory acquired from Froto for $800,000 During 2025 Bilbo sold the rest of the inventory acquired from Froto for $900,000. REQUIRED: 1) Make Froto's journal entry when they sell the merchandise to Bilbo (Froto uses perpetual inventory) 2) Make Bilbo's journal entry when it buys the merchandise from Froto, Bilbo uses periodic inventory 3) make any necessary worksheet entried needed in 2023 connected with the inventory 4) in 2023 Bilbo reported (unconsolidated) inventory: $2,000,000 cost of goods sold $5,000,000 income $3,000,000 and Froto reported inventory $400,000 cost of goods sold $4,000,000 income $600,000 What is consolidated a) inventory b) cost of goods sold c) income 5) make any worksheet entried needed 2024 6) In 2024 Bilbo reported (unconsolidated) inventory $2,000,000 cost of goods sold $5,000,000 income $3,000,000 and Froto reported inventory $400,000 cost of goods sold $4,000,000 income $600,000 what is consolidated a) inventory, b) cost of goods sold c) income 7) make any worksheet entries needed 2025 8) in 2025 Bilbo reported (unconsolidated) inventor $2,000,000 cost of goods sold $5,000,000 income $3,000,000 and Froto reported inventory $400,000 cost of goods sold $4,000,000 income $600,000 what is consolidated a) inventory, b) cost of goods sold c) income